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Pituitary Dwarf Treatment Market Overview 2024: Advancements in Therapy and Market Growth
Pituitary Dwarf Treatment Market Overview
According to The Business Research Company's, The pituitary dwarf treatment market size has grown rapidly in recent years. It will grow from $4.76 billion in 2023 to $5.52 billion in 2024 at a compound annual growth rate (CAGR) of 15.9%. The growth in the historic period can be attributed to increasing demand for pituitary dwarf treatment drugs, growing prevalence of pituitary dwarfism, awareness of pituitary dwarfism.
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Market Drivers and Trends:
The growing prevalence of growth hormone deficiency is expected to propel the growth of the pituitary dwarf treatment market going forward. Growth hormone deficiency (GHD) is a medical condition characterized by the pituitary gland's inadequate production or secretion of growth hormone (GH). The pituitary dwarf treatment provides hormonal therapies that increase growth and bone health, regulate metabolism and improve the quality-of-life suffering from dwarfism and growth hormone deficiency. For instance, in January 2021, according to the European Medicines Agency (EMA), a UK-based decentralized agency, an estimated 6,000 adults will be diagnosed with adult growth hormone deficiency (AGHD) each year in the US. Therefore, the growing prevalence of growth hormone deficiency is driving the growth of the pituitary dwarf treatment market.
Major companies operating in the pituitary dwarf treatment market are focusing on developing innovative products to sustain their position in the market. For instance, in April 2023, Novo Nordisk A/S, a Denmark-based pharmaceutical company, introduced Sogroya (somapacitan-beco) injections of 5 mg, 10 mg, or 15 mg approved by the Food and Drug Administration (FDA), a US-based government agency. Sogroya treats children aged 2.5 years and older with growth deficiencies due to insufficient endogenous growth hormone secretion. With this additional indication, Sogroya is now the only once-weekly growth hormone (GH) medication available for children and adults.
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Major Key Players of the Market:
Pfizer Inc., Merck and Co Inc., Novartis AG, Sanofi S.A., Eli Lilly and Company, Novo Nordisk A/S, H. Lundbeck A/S, Mylan N.V., Teva Pharmaceutical Industries Ltd., Ipsen Pharma S.A., Genentech Inc., Apotex Inc., Cipla Limited, Ferring Pharmaceuticals, Anhui Anke Biotechnology (Group) Co Ltd., Amneal Pharmaceuticals LLC., BioMarin Pharmaceutical Inc., Biopartners GmbH, Elekta AB, Xiamen Amoytop Biotech Co Ltd., Lifetech Labs, Alnylam Pharmaceuticals Inc., GeneScience Pharmaceuticals Co Ltd., Armata Pharmaceuticals Inc., Alkermes Plc.
Pituitary Dwarf Treatment Market 2024 Key Insights:
• The pituitary dwarf treatment market size is expected to grow to $9.4 billion in 2028 at a compound annual growth rate (CAGR) of 14.2%.
• Growth Hormone Deficiency Drives Growth In The Pituitary Dwarf Treatment Market
• Market Focus On Innovative Products Drives Growth In Pituitary Dwarf Treatment
• North America was the largest region in the pituitary dwarf treatment market in 2023.
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